Proficio Capital Partners LLC Invests $51,000 in Planet Fitness, Inc. (NYSE:PLNT)

Proficio Capital Partners LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,314 shares of the company’s stock, valued at approximately $51,000. Proficio Capital Partners LLC owned 0.06% of Planet Fitness at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in shares of Planet Fitness by 11.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 6,546 shares of the company’s stock valued at $647,000 after purchasing an additional 649 shares during the last quarter. Walter Public Investments Inc. grew its holdings in Planet Fitness by 0.6% in the 4th quarter. Walter Public Investments Inc. now owns 163,673 shares of the company’s stock valued at $16,182,000 after buying an additional 964 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Planet Fitness during the 4th quarter worth $227,000. Fortis Group Advisors LLC bought a new position in Planet Fitness during the 4th quarter worth $316,000. Finally, Truist Financial Corp lifted its holdings in shares of Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLNT shares. Royal Bank of Canada restated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Roth Mkm reissued a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Canaccord Genuity Group assumed coverage on Planet Fitness in a research report on Thursday. They issued a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Piper Sandler raised their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Trading Down 0.2 %

NYSE PLNT opened at $93.31 on Friday. The firm has a market capitalization of $7.90 billion, a PE ratio of 50.17, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s 50-day moving average price is $101.29 and its two-hundred day moving average price is $93.24. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.